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Author Topic: build mining is not profitable, really?  (Read 3063 times)
dunfida
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October 11, 2017, 07:23:17 PM
 #21

I once asked my friend who was first in this field and he said "for now mining is no longer profitable" from that statement I want to ask you guys, is that right, so what does that mean for new miners can not feel it ?
This would depend on the situation since there are factors that do really affect the profitability of mining either on bitcoin or on altcoin.Lets talk first on bitcoin. If electricity cost on your place is cheap compared on other places which you can able to calculate on profits minus on the expenses on monthly basis then 5-6 months would be the average roi if those miners wont bust up.If you would decide to mine bitcoins then it would be ideal to have cheap electricity and at the same time better to go on large scale mining farm but if your budget would be limited then better to stick on gpu altcoin mining.






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October 12, 2017, 02:38:05 PM
 #22

I once asked my friend who was first in this field and he said "for now mining is no longer profitable" from that statement I want to ask you guys, is that right, so what does that mean for new miners can not feel it ?
This would depend on the situation since there are factors that do really affect the profitability of mining either on bitcoin or on altcoin.Lets talk first on bitcoin. If electricity cost on your place is cheap compared on other places which you can able to calculate on profits minus on the expenses on monthly basis then 5-6 months would be the average roi if those miners wont bust up.If you would decide to mine bitcoins then it would be ideal to have cheap electricity and at the same time better to go on large scale mining farm but if your budget would be limited then better to stick on gpu altcoin mining.
GPU Altcoins are also better for the home miner because you have lots of options if it doesn't work out. You can resell hardware for 50% value at a minimum, or if your rigs are pretty and well set-up you might be able to resell the rig as one piece for a decent amount of dollars. In addition, you aren't really dependent on the price of Bitcoins or a given algorithm, there are a bunch of totally valid algos and coins to choose from.
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October 13, 2017, 11:11:04 AM
 #23

If you get the hardware for free / or it already ROI'ed and have 0 electricity costs then mining is still profitable. Wink It's better to buy coins.
Exactly, I would double this. Sometime you can get free or very low cost hardware or free electricity then you can still make some thing, thought now much as before Cheesy
That will be your lucky day I must say. Actually the only think that restricts a huge user list to get into mining is only high capital required as electricity is expensive. Being technical is not an issue with newcomers because they can learn but this electricity price and affording gets some over them and they just get away from it. So free electricity is bonus.
You are absolutely right. Free electricity is a bonus and believe me if this happens you are not less than a luckiest person in crypto. Reason is the only thing that makes this adoption-gap to mining than trading and investing, the extra resources. Money is required definitely but it requires electricity too. So get a free bonus and enjoy!

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October 13, 2017, 06:10:36 PM
 #24

Almost nothing in the world ensures even 5% now, mining is crazy good. It's only a matter of time until some real players pick up the ball.

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October 19, 2017, 10:50:25 PM
 #25

Almost nothing in the world ensures even 5% now, mining is crazy good. It's only a matter of time until some real players pick up the ball.
Yes only the game of your efforts. You will not be responded back negatively. You only have to take step, yes it is the fact that you are not going to get so many information regarding it, no expertise but there will be solutions coming to you. You only need to make a strong will and things will converge to help you.



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October 19, 2017, 10:57:07 PM
 #26

I once asked my friend who was first in this field and he said "for now mining is no longer profitable" from that statement I want to ask you guys, is that right, so what does that mean for new miners can not feel it ?

I even thought before that mining is no longer profitable but the thing that makes me thinking about that is because the electricity here in my country is quite expensive for a mining rig.

But there are countries that are offering cheaper rates so for those people that will build their own mining rig there will be profiting good amount through bitcoin mining.

And what's the good thing here is we can also go with GPU mining that allows us to mine alt coins so if you are not up to bitcoin and you are not confident to mine it, stick with alts.

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October 19, 2017, 11:14:19 PM
 #27

You should ask him why mining is no longer profitable?

His statement anyway makes no sense and is similiar to the statement to run a business is no longer profitable! As we all know, there are businesses that run profitable and there are businesses that go broke.

Whether or not mining is profitable depends on the coins you want to mine and on your personal location. If you live in a hot country with high electricity costs or high tax payments on mining, then it might be not profitable for you, while someone else with other conditions makes a lot of money.

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October 20, 2017, 02:45:38 AM
 #28

profit or not its depends which coin you mine, electricity and difficulty nethash. build mining rig is still profitable, but i don't think its still good idea. build mining rig is way to expensive only for get a little profit.

okala
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October 23, 2017, 06:53:46 AM
 #29

With s9 mining is still profitable and the major thing you should put into consideration is your energy. Electricity is very expensive in some countries especially United States of America. But country like Libya that has almost free electricity can use s9 and make good profit from it.  I will also recommend you to try altcoins mining especially the new coins. Some of them are very profitable and mining them now is like mining bitcoin then!

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Idrisu
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October 27, 2017, 02:10:11 PM
 #30

Mining coins is still very profitable and many miners are still make it big from mining farm. However mining bitcoin is very expensive now and you will need to get minimum s7 or s9 with cheap electricity before you can make some few dollars par month. But mining some altcoins are very profitable now and we would need to promote altcoins mining now than bitcoin as most of the Bitcoin has already be mined.

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November 02, 2017, 07:05:06 AM
 #31

I once asked my friend who was first in this field and he said "for now mining is no longer profitable" from that statement I want to ask you guys, is that right, so what does that mean for new miners can not feel it ?
I have had of some one in my country that mine around 4bitcoin  in a month around 2014 to 2015 but he said now he can not mining bitcoin that can cover his operational cost. The more bitcoin are being mine the harder it becomes for miners to make profit from they mining business. I think we have to shift our attention to altcoins and those coins that splitting from original bitcoin in other to make money in mining business.



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November 02, 2017, 09:50:29 AM
 #32

I once asked my friend who was first in this field and he said "for now mining is no longer profitable" from that statement I want to ask you guys, is that right, so what does that mean for new miners can not feel it ?
It is not that much profitable than holding coins. So the mining is totally depends up on the hardware, current consumption charges and the coin you choose to mine.
Mining will be advisable if the power cost low in your region
Best thing for now is buying and holding your coin. Whatever might be the capital but invest what you have and get more.
I do had a same suggestions like you . But i choose to buy or earn coins.

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November 03, 2017, 06:49:03 AM
 #33

Mining bitcoin and others coins is still profitable and it depends on how much you have to invest and how cheap electricity are in your area. Bitcoin mining though very expensive and hard but you can still make some profits. S9 can still make you some profits in bitcoin mining and if you decide to mining some coins you can still make some money as many of them are still new and we are having alot of improvement in this field.


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November 03, 2017, 07:09:46 AM
 #34

Build mining is not profitable?
     I think it depends in your situation specially you have to consider: First,the electricity cost. If Low electricity or free electricity  in your country  you have a great chance in making mining as profitable. Next, is your mining specs are in good quality or much better the best one this means a lot specially in the increasing difficulty in mining nowadays. Lastly, being good in managing this kind of business is your edge to other miners out there. 
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November 06, 2017, 07:56:47 AM
 #35

Mining bitcoin and others coins is still profitable and it depends on how much you have to invest and how cheap electricity are in your area. Bitcoin mining though very expensive and hard but you can still make some profits. S9 can still make you some profits in bitcoin mining and if you decide to mining some coins you can still make some money as many of them are still new and we are having alot of improvement in this field.
It's hard to build bitcoin mining sites, because I know in this kind of job you just need a lot of investors to sustain the needed of your business.
Moreover I think you need to convinced a lot of people to believe in your projects because more of them are not consider this sites as source of income, because they experience to scammed in mining sites.

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